Bank of Hawaii Makes New $1.02 Million Investment in Snowflake Inc. $SNOW

Key Points

• Bank of Hawaii has made a new investment of approximately $1.02 million in Snowflake Inc., acquiring 6,975 shares of the company's stock in the first quarter.
• Several institutional investors, including Brighton Jones LLC and Boothbay Fund Management LLC, significantly increased their holdings in Snowflake during the fourth quarter, indicating strong interest from the investment community.
• Recent analyst ratings for Snowflake have been positive, with several firms raising their price targets and a consensus rating of "Moderate Buy" reflecting growing confidence in the company's performance.

Bank of Hawaii acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,975 shares of the company's stock, valued at approximately $1,019,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC boosted its position in shares of Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after buying an additional 29,320 shares during the last quarter. MGO One Seven LLC lifted its stake in Snowflake by 34.0% during the 4th quarter. MGO One Seven LLC now owns 2,552 shares of the company's stock valued at $394,000 after acquiring an additional 648 shares in the last quarter. Boothbay Fund Management LLC boosted its holdings in Snowflake by 212.5% during the 4th quarter. Boothbay Fund Management LLC now owns 24,067 shares of the company's stock worth $3,716,000 after acquiring an additional 16,365 shares during the last quarter. Oak Wealth Advisors LLC purchased a new position in Snowflake during the 4th quarter worth $736,000. Finally, Mission Creek Capital Partners Inc. bought a new stake in shares of Snowflake in the 4th quarter worth $4,449,000. 65.10% of the stock is owned by institutional investors.

Insider Activity at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 400,000 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the sale, the chief financial officer directly owned 292,610 shares in the company, valued at $60,090,389.60. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 424,852 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $219.35, for a total value of $93,191,286.20. Following the transaction, the director directly owned 165,507 shares in the company, valued at $36,303,960.45. This represents a 71.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,916,826 shares of company stock worth $637,835,052. 6.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada increased their price objective on shares of Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Truist Financial lifted their target price on shares of Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Stephens assumed coverage on Snowflake in a research note on Friday, July 18th. They issued an "overweight" rating and a $261.00 target price on the stock. Finally, CICC Research initiated coverage on Snowflake in a report on Friday, June 20th. They issued an "outperform" rating and a $225.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.22.

Snowflake Stock Up 1.1%

Snowflake stock opened at $196.7910 on Monday. The firm has a 50 day moving average price of $211.11 and a 200-day moving average price of $184.90. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $229.27. The company has a market capitalization of $65.70 billion, a P/E ratio of -46.74 and a beta of 1.22.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.

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